Mortgage Rates Improved a Little Bit Today
Mortgage rates improved a little bit again
today, but again, only affecting the dollars associated with the closing costs
if you wanted to buy the lower rates. The most prevalently quoted conforming
30yr fixed rates for top tier borrowers was still at 4.125%, but 4.0% was
better than yesterday with lessor fees.
A little better in the treasury and mortgage markets today. Trading in the rate markets recently hasn't caused any serious heart attacks on wild movements. The rate markets are stationary and have been that way for over three weeks with little likelihood of change again next week. Major central banks have once again tried to pump up a flagging global economy, sending markets higher but raising new questions. The first being, does it actually do any good. China and the EU now and last week Japan all showing signs of frustration and maybe a little fear, trying to stimulate their economies. The Fed had some success, so in many ways too late, other central banks are jumping into the pool of money printing.
In summary, I am beginning to sound like a broken record. Pricing improved a little bit for those who wanted to have lower rates. Will this trend continue enough to change the rates itself? Some day - soon? - the dam will break and rates will move substantially. The question though is when and where will they go. What I am telling people now if they like the rate, lock and do not look back. If you float, are the risks more beneficial than the potential rewards?
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit me on my website at www.CallTheMoneyMan.com. I have access to real time Wall St. data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
A little better in the treasury and mortgage markets today. Trading in the rate markets recently hasn't caused any serious heart attacks on wild movements. The rate markets are stationary and have been that way for over three weeks with little likelihood of change again next week. Major central banks have once again tried to pump up a flagging global economy, sending markets higher but raising new questions. The first being, does it actually do any good. China and the EU now and last week Japan all showing signs of frustration and maybe a little fear, trying to stimulate their economies. The Fed had some success, so in many ways too late, other central banks are jumping into the pool of money printing.
In summary, I am beginning to sound like a broken record. Pricing improved a little bit for those who wanted to have lower rates. Will this trend continue enough to change the rates itself? Some day - soon? - the dam will break and rates will move substantially. The question though is when and where will they go. What I am telling people now if they like the rate, lock and do not look back. If you float, are the risks more beneficial than the potential rewards?
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit me on my website at www.CallTheMoneyMan.com. I have access to real time Wall St. data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
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